[woodmanjlw]

I made a personal loan to a couple I know. I had them sign a promisarry note and added late charges and interest rate just to try to make sure they would pay. Here is my problem after they did not pay i took them to court and won a judgement against them that said they had to pay me. It has been almost a year since court and i got 2 payments that werent even what we agreed upon. does anyone know if i am able to take them back to court and instead of a new judgement ask that they pay the court monthly or is there a place that handles debt collection for personal loans. I am even willing to sell this loan off to a place that collects at a lost just to get some of my money back. any kind of suggestions or information would be greatly appreciated.

[Retroit]

I'm not an expert, but I think that since you already have a judgment against them, you can try to garnish money from them (wages, bank account, etc.) or have their property seized to go toward paying off your loan.

[zthatzmanz28]

Might be able to apply a lien on some property? I had same happen to me (just $500)..lesson ----Do not loan money to friends or associates and expect to be paid back--do not loan money you cannot afford to loose...it stinks...

[Newtgirl]

Just because you sue someone and win doesn't mean they'll pay you. I've been there.

If you have their social security number, you can have their wages garnished or lien their property. If you don't have their SSN, you'll have to get it through a private investigator. Go to the courthouse where the action was filed, and they should be able to tell you how to get wages garnished.

[BettyLouToYou]

Since you have a judgment, you can file a garnishment at the Court. If you know where one of them works, you can garnish wages. Also, if you happen to know where they bank, you can try to garnish a bank account.

Forms are available online at Garnishment forms (http://courts.michigan.gov/scao/courtforms/garnishment/garindex.htm - broken link)

For wages, use the periodic garnishment. For a bank account, use the non-periodic. Fill it out, take it to the Court, pay the filing fee ($15, I think) they will verify the judgment amount (don't forget interest and costs!) then you have to serve it on the garnishee (their employer or bank) - you can personally deliver it or send via certified mail, just be sure to track it if you send it by mail. When sending the garnishment, be sure to read the instructions about the garnishee disclosure fee and how many copies to give them. The employer or bank then must respond and provide a copy to the person.

Good luck!!

[Coldjensens]

Originally Posted by Newtgirl

Just because you sue someone and win doesn't mean they'll pay you. I've been there.

If you have their social security number, you can have their wages garnished or lien their property. If you don't have their SSN, you'll have to get it through a private investigator. Go to the courthouse where the action was filed, and they should be able to tell you how to get wages garnished.

It is illegal to obtain someone's Sociail Security number without their consent.